Labor market: 213,000 jobs created, unemployment at 13.6% at the end of September 2024

Monday 04th November 2024 03:56 AM

Credit: HCP

After losing 297,000 jobs a year earlier, the economy saw the creation of 213,000 jobs between the third quarter of 2023 and that of 2024. According to the recent note from the High Commission for Planning (HCP) relating to the market situation of work, this period saw the creation of 231,000 jobs in urban areas and a loss of 17,000 jobs in rural areas.

By type of employment, this creation is due to the increase in the volume of paid employment of 262,000 and the reduction of unpaid employment of 49,000 positions, indicates the same source. The services sector remains the one that generates the most jobs with 258,000 positions created during the same period. It is followed by the construction sector with 57,000 jobs and industry including crafts with 23,000 jobs. The agriculture, forestry and fishing sector, however, continued to suffer job losses with 124,000 positions eliminated.

Between the third quarter of 2023 and the same period of 2024, the activity rate increased, at the national level, from 43.2% to 43.6%. It went from 45.8% to 45.7% in rural areas and from 41.9% to 42.5% in urban areas. The activity rate of men increased from 68.7% to 68.6% and that of women from 18.4% to 19.2%. Likewise, the employment rate increased from 37.4% to 37.6% nationally. This rate saw a slight decrease of 0.3 points in rural areas (from 42.6% to 42.3%) and increased by 0.5 points in urban areas (from 34.8% to 35.3%). . Furthermore, this rate stagnated at 60.7% among men, and increased from 14.8% to 15.2% among women.

Despite these developments, the unemployment rate continued to rise in the third quarter of 2024. With an increase of 58,000 people, including 42,000 in urban areas and 16,000 in rural areas, the volume of unemployment reached 1,683,000 people in national level. The unemployment rate thus rose from 13.5% to 13.6% at the national level, stagnating at 17% in urban areas and increasing from 7% to 7.4 in rural areas. The highest rates remain recorded among young people aged 15 to 24 (39.5%), women (20.8%) and graduates (19.8%), details the HCP.

The number of underemployed people also increased by 60,000, reaching 1,066,000. The underemployment rate thus rose from 9.6% to 10% at the national level, from 8.1% to 8. 8% in urban areas, while it remained stable at 12% in rural areas, adds the same source.